Škoda Auto Volkswagen India plans to introduce new models in 2024, along with making an entry into the electric vehicle (EV) segment, even as it intends to step up exports of made in India cars. The Czech firm is gearing up to increase its capacity utilisation at Aurangabad and Chakan plants in Maharashtra to more than 90 percent from the current 70-75 percent.

As part of its India 2.0 strategy, the Volkswagen Group has invested one billion euros in the country to locally develop multiple models, with focus on Skoda in its India operations. The Group is now in the process of outling investment and timelines for the next phase of growth.

Foreseeing a strategic shift towards SUVs as the Group's future  product strategy in India, it plans to introduce the new generation of its flagship model, Superb, in 2024. Skoda is also gearing up to enter the battery EV market with the Eniyaq, an electric SUV in the first half of 2024.

The company looks to prioritise dealer network restructuring and intends to have a greater focus on exports, particularly to Southeast Asia. The Group aims for a five percent market share by 2025-26, underscoring their trajectory towards a more substantial presence in India’s automotive sector.